Model/ Business model
Last updated
Last updated
Let's take an example of a client named Alex.near, who is a Blockchain Researcher.
Alex.near joins Social TrustScore and, as a new account, receives 10 TRUST based on the transaction history and the time of the first transaction.
Leveraging their expertise, Alex actively creates content on the platform to increase their personal credibility. They stake 5 TRUST on a specific post and set a condition that only users with 5 TRUST or more can access and read the post.
When the content is shared, the community responds positively and votes for Alex's post as valuable content. After a week, Alex.near receives rewards in TRUST. They continue their work.
Over time, Alex.near accumulates 200 TRUST, and the community trusts them as a knowledgeable analyst with a high reputation. Nami.near (20 TRUST), a community member, requests a research article on "Potential Industries in the Blockchain Market" and offers 20 NEAR as compensation.
Alex.near (200 TRUST) writes the requested article and sets it as private for Nami or public with a condition that readers must have over 10 TRUST to unlock the article, which comes at a price of 20 NEAR.
Nami.near (20 TRUST) is ready to unlock and pay Alex.near. The protocol charges a transaction fee of 0.5%, approximately 1 NEAR. Alex receives $19. However, they will still have passive income as the community unlocks and reads their article.
The community greatly appreciates Alex.near and donates to them in recognition of their valuable content. The protocol charges a transaction fee of 0.5% for these donations.
The social network will require significant interaction with content on the blockchain. With NEAR's mechanism, 30% of the transaction fees will be returned to the smart contract.
From the profits of the protocol, incentives will be used to create events, organize activities, or reward the community members with high TRUST scores on a monthly basis.
